- An analysis by crypto influencer Bitboy Crypto shows that BTC and XRP are the only top 10 projects from 2013 to still remain in the top 10 this year.
- Armstrong says that at least three crypto projects drop yearly from the top 10 list.
- BTC and XRP prices have yet to recover from the recent market correction.
Popular crypto influencer Ben Armstrong, popularly known as Bitboy Crypto, in a recent video, analyzed the top 10 projects from 2013 to date. Per the video posted on YouTube, the influencer says BTC and XRP are the only top projects from 10 years ago that still remain in the crypto market’s top 10.
According to Armstrong, many top projects failed to remain in the top 10, mostly after a bear season. However, the turnover rate increases when the crypto market is bullish, and there is sustained money flow into the market.
Notably, the crypto influencer says the project turnover in the top 10 is currently at 32.5%. That means at least three coins, on average, lose their spots every year and get replaced by new tokens. Additionally, per his analysis, most coins that leave the top 10 fail to return either due to a collapse or market condition.
Armstrong remarked that the crypto market has grown in popularity and influence compared to its early stages. The crypto web has become prominent in pop culture and different market sectors. Likewise, the space has also seen the entrance of big players and famous figures.
Similarly, the crypto space has also seen an influx of institutional investors from the traditional market. Big players in the financial industry, like BlackRock, have also trooped into the market. Armstrong claims this prominence shows that the crypto market has expanded and grown over the years.
Elsewhere, Bitcoin’s poor form continues into the week, with the token still trading at $26,037, data from CoinMarketCap reveals. While the token saw marginal gains, the current price is still an 11% decline in the past seven days. Likewise, XRP has failed to replicate the bullish run it recorded last month. The token currently sits at $0.5171, a 17% decrease in the past week.
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